From the Texas Pension Review Board (PRB)

PRB guidelines for actuarial soundness – implemented 1984

  • Funding reflects all plan assets and obligations
  • Normal cost be level or declining (% payroll)
  • UAAL funding level or declining (% payroll)
  • UAAL funded under 40 years
  • Under 25-year UAAL funding preferred
  • Assumptions comply with ASOPs

PRB guidelines modified (2011)

  • Preferred range lowered to 15-25 years from 25-30 years
  • Limited benefit increases
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